1906 Gunbarrel Rd
Chattanooga, TN 37421
FedX Anc Ctr|A+ Location Next To Mall/TGT/WMT · Retail Property For Sale

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in 1906 Gunbarrel Shops, a 100% occupied retail center anchored by corporately-backed FedEx Office. The asset is being offered for $2,225,000, representing an attractive 7.50% CAP Rate. The property features anchor tenant FedEx Office, who is an original tenant to the building (2008), and recently executed an extension through 2028, creating long-term stability to the rent roll. FedEx, a recession proof leader in transportation, e-commerce, and business services worldwide has over 2,000 U.S. locations and supports the mailing, shipping and copying services to the area. The center also includes three other well-known users making the center 100% occupied. In fact, T-Mobile and CPR have been in the market and exercised renewals, proving their success at the center. The stable occupancy and excellent diversification of all the service-oriented tenants, makes this property an unbeatable asset. The property offers excellent frontage and prominent pylon signage along the main retail roadway, Gunbarrel Road with traffic counts exceeding 35,700 VPD. The property is also positioned with convenient highway access just 1-mile from I-75 (main highway to Knoxville, TN or Atlanta, GA) with high traffic counts of 84,383 VPD and Highway 153 with 108,872 VPD, the cut-through between I-75 and Highway 64 (direct route to Downtown Chattanooga). Gunbarrel Shops sits in the heart of the retail corridor being sandwiched between Walmart Supercenter and Target/Earth Fare/Kohl’s, while also being directly across from Hamilton Place Mall, featuring Dillard’s, Barnes & Noble, JCPenney and 150 other stores/restaurants. The high barrier to entry market is packed with loads of other complimentary retailers in every direction of Gunbarrel Shops making the region a destination point. Gunbarrel Shops is positioned in a growing residential and commercial corridor. The region has a strong employment base surrounded by thousands of employees on a daily basis. The property sits across from Erlanger East Hospital (0.4 Miles) currently amidst a $50 MM expansion, which is part of Erlanger Health System, the city’s largest employer with 10,150 employees. The Erlanger Health System is also associated with the University of Tennessee College of Medicine, which provides medical education to third and fourth-year medical students, residents, and other medical professionals bringing even more people to the market. Furthermore, BlueCross BlueShield of Tennessee (5,250 employees), Hamilton County Schools (6,130 total employees), Tennessee Valley Authority (3,500 employees), McKee Foods Corp. (3,100 employees), Unum Corp. (2,800 employees), Volkswagen of America (2,500 employees in a $1 billion plant and serves as the group's North American manufacturing headquarters), CHI Memorial Hospital (3,270 employees), the City of Chattanooga (2,790 employees) and Roper Corp. with 1,900 employees make up a significant portion of the employment to the region. Chattanooga is the 4th largest city in the state and a strong residential community with average household incomes over $85,000 within 1-mile. Tourism and hospitality have been a growing part of Chattanooga's economy, with Hamilton County surpassing $1 billion in revenue from tourists. With the strategic placement, quality service-oriented tenants with long-term anchor and proximity to employees, and residents; the asset is positioned as a high-quality investment for many years to come. Chattanooga is the 4th largest city in the state and is located in Southeast Tennessee near the border of Georgia at the junction of four interstate highways. Chattanooga is a transit hub and lies 118 miles northwest of Atlanta, Georgia, 112 miles southwest of Knoxville, Tennessee, 134 miles southeast of Nashville, Tennessee, 102 miles east-northeast of Huntsville, Alabama, and 147 miles northeast of Birmingham, Alabama. The city has received national recognition for the renaissance of its beautiful downtown and redevelopment of its riverfront. The city boasts the most productive affordable housing program in the nation and is notable for leveraging development funds through effective public/private partnerships, with significant civic involvement on the part of private foundations. The local economy includes a diversified mix of manufacturing and service industries, several colleges/universities, and other well-known schools throughout the South. "Sustainability" is a key concept for industry and government working together for enlightened development. The employment base is made up of Erlanger Health System, the city’s largest employer with 10,150 employees, along with BlueCross BlueShield of Tennessee (5,250 employees), Hamilton County Schools (6,130 employees), Tennessee Valley Authority (3,500 employees), McKee Foods Corp. (3,100 employees), Unum (2,800 employees), Volkswagen of America (2,500 employees in a $1 billion plant and serves as the group's North American manufacturing headquarters), CHI Memorial Hospital (3,270 employees), the City of Chattanooga (2,790 employees) and Roper Corp. with 1,900 employees. The area boasts many other well-known companies with total employee counts exceeding 1,000 employees at each, creating an employment stronghold. Other notable companies with a solid presence, include: Alstom, Amazon.com, BASF, DuPont, Invista, Komatsu, Rock-Tenn, Plantronics, Domtar, Norfolk Southern, Ferrara Candy Company (manufacturer of Brach's candies), Alco Chemical, Colonial Pipeline, and Buzzi Unicem, The William Wrigley Jr. Company (the sole site of production of Altoids breath mints), Access America Transport, CBL & Associates, The Chattanooga Bakery, Chattem (the world's first Coca-Cola bottling plant), Coker Tire, U.S. Xpress Inc., Covenant Transport, Double Cola, CraftWorks Restaurants & Breweries, Luken Communications, Miller & Martin and Republic Parking System. Chattanooga is leading the way in the Innovation Economy by capitalizing on unique assets, including the fastest, most pervasive and least expensive Internet in the Western Hemisphere. The higher education options within Chattanooga are taking advantage, being home to The University of Tennessee at Chattanooga, the second largest campus of the University of Tennessee System, with a student population of over 11,590, Chattanooga State Community College with a total enrollment of roughly 8,150 students, a branch of the University of Tennessee College of Medicine, which provides medical education to third and fourth-year medical students, residents, and other medical professionals in southeast Tennessee through an affiliation with Erlanger Health System. Covenant College and Southern Adventist, both private colleges are located in nearby suburbs and have student population of about 1,000 and 3,000 students, respectively.